If your local pharmacy is a CVS pharmacy, you might need to find somewhere else to shop for your prescriptions and health care items. The popular pharmacy chain plans to close 300 more stores by the end of 2024.
Good Housekeeping reports that many of the CVS locations that will be closing will be locations inside Target stores, but there will also be many other stand alone CVS stores that will be closing their doors for good.
This announcement that CVS is closing hundreds of stores isn’t exactly a new one. Back in 2021, the pharmacy chain announced that they would be closing 900 stores by the end of 2024. Now that 2024 is closer and closer to ending, that means the rest of the stores on the chopping block will be closing very soon.
CVS has been struggling to stay afloat in part due to the change in consumer shopping. Many customers are now buying their health care items and even having their prescriptions filled online. That has hurt brick and mortar pharmacies like CVS.
CVS is not the only brick and mortar pharmacy chain that has been struggling over the past few years. Back in July, Rite-Aid filed for bankruptcy and announced plans to close 74 stores by the end of the year, but that’s just the beginning. According to the company’s CEO, Tim Wentworth, Rite-Aid will close many of their locations by the end of 2027.
While we know CVS is closing 300 more locations by the end of the year, we do not know the exact locations that will be closing. Over the next few months, you’ll need to keep an eye out on your local CVS location to see if they announce if they are going out of business.
Watch the video below to learn more about why CVS is closing 300 of their stores by the end of 2024.